Hoogervorst re-appointed as IASB accounting standards body chairman

LONDON, Feb 12 (Reuters) - Hans Hoogervorst has been reappointed for a second, five-year term as chairman of the International Accounting Standards Board which writes book-keeping rules used in over 100 countries, the board’s trustees said on Friday.

Hoogervorst, a former Dutch finance minister and markets regulator, starts his second term in July.

Much of his first term was spent grappling with the aftermath of the global financial crisis which prompted world leaders to call for a fundamental change in how banks set aside capital to cover souring loans.

A key success has been getting a deal on reforming accounting rules for leases in the teeth of industry opposition.

But Hoogervorst has expressed disappointment that he has not been able to persuade the United States to adopt IASB rules to make them truly global.

The London-based IASB also said its vice-chairman, Ian Mackintosh, has decided to retire at the end of his first term. The board’s trustees will begin discussions on his replacement. (Reporting by Huw Jones; editing by Sue Thomas)